PRESS RELEASE

INTESA SANPAOLO: 350 MILLION EURO ESG GUARANTEE LINE

TO THE IBERIAN ENERGY LEADER ENDESA

  • Upon reaching a pre-established target, Intesa Sanpaolo will improve the conditions of the guarantee facility.
  • Endesa has committed to increase the percentage of renewable sources in the total installed power generation capacity in the Iberian Peninsula from 45% at the start of the year to 50% by end December 2021.
  • Nicola Doninelli: "The guarantee facility, granted by our Madrid branch, provides a concrete incentive for a large European group, already a leader on the sustainability front, to achieve even more ambitious ESG goals".

Milan/Madrid, 28 July 2021 - Intesa Sanpaolo has granted Endesa, the largest electricity company in Spain and the second largest in Portugal, a €350 million guarantee line.

The operation involves the granting of a facility - through the IMI Corporate & Investment Banking Division guided by Mauro Micillo - for the issuance of "umbrella" guarantees - from which all Endesa's subsidiaries will be able to benefit -, which includes an ESG (Environmental, Social, and Governance) incentive mechanism.

Endesa has committed to increasing the percentage of renewable sources in its total installed power generation capacity in the Iberian Peninsula from 45% at the start of the year to 50% by end December 2021. If the pre-set target is met, Intesa Sanpaolo will apply a discount to the line.

At end 2020, Endesa had total assets of €32 billion and around 9,600 employees. The company is part of the Enel Group, an Italian multinational power company and a leading integrated player in the global power and renewables markets, as well as a main gas operator in the retail market, present in 5 continents and more than 30 countries, with more than 74 million end users it is also the first private network operator globally.

"We are very pleased to support Endesa and the Enel Group in their important path for the acceleration of the energy transition" - says Nicola Doninelli, Head of the International Department of Intesa Sanpaolo's IMI Corporate & Investment Banking Division. "The guarantee facility, granted by our Madrid branch, provides a concrete incentive for a large European utility, already a leader on the sustainability front, to achieve even more ambitious ESG goals".

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Intesa Sanpaolo

Intesa Sanpaolo is the leading Bank in Italy and one of the soundest and most profitable banks in Europe. It offers commercial, corporate investment banking, asset management and insurance services. The Intesa Sanpaolo Group has approximately 13.5 million customers in Italy who are assisted through both digital and traditional channels and 7.1 million customers abroad with subsidiaries operating in commercial banking in 12 countries in Central Eastern Europe and Middle Eastern and North African areas and an international network of specialists in support of corporate customers across 25 countries. Intesa Sanpaolo is recognized as one of the most sustainable banks in the world. For the Group, creating value means being a driver for growth, for the benefit of both society and the economy. As regards the environment, the Group has set up a 6-billion-euro fund for the circular economy. Intesa Sanpaolo supports major economic inclusion and poverty reduction projects, including an impact fund of 1.5 billion euro for loans available to social groups who struggle to access credit. Intesa Sanpaolo has a high level of involvement in cultural initiatives, organised by the Bank or in collaboration with other entities in Italy and further afield. These include permanent and temporary exhibitions showcasing the Bank's impressive artistic heritage at the Gallerie d'Italia, the Group's museums located in Milan, Naples, Vicenza and soon Turin.

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Intesa Sanpaolo S.p.A. published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2021 09:12:04 UTC.